Brief: Coolpad Group says Shanghai Pudong Development Bank files a lawsuit against units of co

Coolpad

21/08/2017 16:02

Aug 21 (Reuters) - Coolpad Group Ltd  2369.HK  
    * Shanghai Pudong Development Bank,Shenzhen Branch alleges 
that borrower,guarantors are involved in litigation cases, & key 
assets have been seized & locked up by court 
    * Shanghai Pudong Development Bank filed lawsuit requesting 
court to order unit of co to make up for shortfall of security 
deposit of bank acceptance bills in rmb90 million 
    * Company is of view that acceptance bills are not due yet 
    * Refers to civil complaint from Shanghai Pudong Development 
Bank against units of co alleging a financing limit agreement 
was signed with units of co 
 
Source text for Eikon:  ID:nHKS4Y1747  
Further company coverage:  2369.HK  
 
 (bangalore.newsroom@thomsonreuters.com)